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Entire OTC Market Breaks As Finra Halts All Quotes And Trading

Tyler Durden's picture




 

As we noted earlier, today's Twitter IPO, while pricing without the Facebook associated histrionics or crashing the NASDAQ, has had an impact on markets. A rather profound impact it appears, because as the OTC BB site, the host of pink sheet, OTC and Bulletin Board stocks just reported, the entire OTC market has been shut down by Finra.

From OTCBB:

Market Wide Quotation and Trading Halt for All OTC Equity Securities

 

On Thursday, November 7, 2013, the Financial Industry Regulatory Authority, Inc. (“FINRA”) halted trading in all OTC Equity Securities pursuant to FINRA Rule 6440(a)(3). FINRA determined to impose a temporary halt because of a lack of current quotation information. Therefore, FINRA has determined that halting quoting and trading in all OTC Equity Securities is appropriate to protect investors and ensure a fair and orderly marketplace. The trading and quotation halt began on Thursday, November 7, 2013, at 11:25:00 a.m. E.T. FINRA will notify the market when trading may resume.

 

Contact Information: Questions regarding this notice can be directed to: FINRA Operations at (866) 776-0800.

So to protect investors, Finra is shutting down the entire market. Let's hope this is not just a test of what is coming to far more liquid exchanges.

As to why the entire OTC BB market just break? Who knows, or cares. As long as the NYSE, and more importantly Twitter, is fine all is well.

 

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Thu, 11/07/2013 - 13:23 | 4131522 RaceToTheBottom
RaceToTheBottom's picture

What market?  We don't have no stinking market?

 

We have a bunch of programs running.

 

I would sooner trust bitcoins

Thu, 11/07/2013 - 13:24 | 4131533 prains
prains's picture

.....call me when alcohol production has been halted

Thu, 11/07/2013 - 13:27 | 4131548 12ToothAssassin
12ToothAssassin's picture

Death rattles

Thu, 11/07/2013 - 13:28 | 4131553 Manthong
Manthong's picture

“a fair.. marketplace”

On what freaking planet?

Thu, 11/07/2013 - 13:41 | 4131625 DoChenRollingBearing
DoChenRollingBearing's picture

"DefCon 4"?

Is the end near?  Certainly nearer...

Thu, 11/07/2013 - 14:00 | 4131688 TruthInSunshine
TruthInSunshine's picture

If carbon life forms, and maybe even some Al Gore rhythms are going to sell, threatening BernYellen's 'un-Virtuous Circle Jerk,' we'll just shut it down, bitchez.

Thu, 11/07/2013 - 14:05 | 4131708 flacon
flacon's picture

My trading platform has been working fine today. I don't see this issue in major stocks like SPY, DIA, GDX, GLD etc. 

Thu, 11/07/2013 - 13:40 | 4131618 Bananamerican
Bananamerican's picture

"You own it you broke it" -Powell's Colon

Thu, 11/07/2013 - 13:47 | 4131652 max2205
max2205's picture

I see bids on these crappy stocks.....what gives?

Thu, 11/07/2013 - 13:51 | 4131663 Cdad
Cdad's picture

Copying my investment style.  You see, I like to wait for rumors coming from the rear that the generals are being shot.  Then I charge out of my foxhole a snorting bull.  

 

/sarc

 

Thu, 11/07/2013 - 13:28 | 4131556 TeamDepends
TeamDepends's picture

Brew/distill your own! We do.  It's the only way to be sure.

Thu, 11/07/2013 - 13:37 | 4131598 lasvegaspersona
lasvegaspersona's picture

ironically we need to thank President Carter for the 'right' to home brew. (cuz it was evil before he said it was OK)

Thu, 11/07/2013 - 13:49 | 4131661 TeamDepends
TeamDepends's picture

He finally caved in to brother Billys constant badgering.

Thu, 11/07/2013 - 13:42 | 4131629 markovchainey
markovchainey's picture

Kill me when alcohol production has been halted!

Thu, 11/07/2013 - 13:23 | 4131525 ParkAveFlasher
ParkAveFlasher's picture

Twitchez, bitchez!

Thu, 11/07/2013 - 13:49 | 4131658 max2205
max2205's picture

When is ben going to dump another 85 bill into this market....2:30?

Thu, 11/07/2013 - 13:24 | 4131530 steveo77
steveo77's picture

Ya, Ve Vill not let ze market drop, we are in control.............

 

Back in the Day of Fibo 61 Retracement, Leader Indices confirming a top 
Back in the day, the market was content with a 61 Fibonacci Retracement. 
 
Starting around 2009, the market started insisting on 78 Fibo's. Now seeing more 100% Fibos to blast the stop of anyone who got in on a trend change. 
 
Some great index charts here, showing clear top that I have been calling for a week, check them out. 
 
http://oahutrading.blogspot.com/2013/11/back-in-day-of-fibo-61- retracement.html

Thu, 11/07/2013 - 13:26 | 4131545 prains
prains's picture

.....is there boobs?

Thu, 11/07/2013 - 13:26 | 4131542 TeamDepends
TeamDepends's picture

And the journey to get to Wallyworld was so long and arduous...

Thu, 11/07/2013 - 13:34 | 4131543 moonstears
moonstears's picture

Actually this market (OTC pinks) is the wild west casino, there are rules, you have to know them for success, it is 98% assured you will lose, and 2% you win big. In the regular markets, this is true, too, but no one knows.

edit: ...should read... "In their "(un)real" markets"... not... "In the regular markets"...

Thu, 11/07/2013 - 13:26 | 4131546 pods
pods's picture

Cryin' won't help you, prayin' won't do you no good, 

Now, cryin' won't help you, prayin' won't do you no good, 

When the levee breaks, mama, you got to move. 

Thu, 11/07/2013 - 13:29 | 4131559 ziggy59
ziggy59's picture

Anyone else 'LONG' rope?

..surgical steel, wood, too

Thu, 11/07/2013 - 13:29 | 4131562 Cdad
Cdad's picture

Pfffft....who needs pricing in this "market"?  Minor nationalized healthcare-like glitch. 

Thu, 11/07/2013 - 13:30 | 4131564 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

If something like this can happen to markets backed by governments and 100 year old instutions, why would someone own gold which is backed by nothing?  

Thu, 11/07/2013 - 13:38 | 4131609 SWCroaker
SWCroaker's picture

Pretty sure you know you just answered your own question when you asked it....

Thu, 11/07/2013 - 14:41 | 4131854 Goldbugger
Goldbugger's picture

Because one day soon their currencies will come crashing down, If a goverment falls then where is the currencys backing them?

Thu, 11/07/2013 - 14:56 | 4131943 ForWhomTheTollBuilds
ForWhomTheTollBuilds's picture

Sad that the sarc tags are required here too these days...

Thu, 11/07/2013 - 15:00 | 4131951 moonstears
moonstears's picture

Gold is "something" thus needs no backing with "something". Fiat is paper, markets are didgets. "Paper covers rock" was a rule undoubtedly started by a future banker, little %$#^& !

 P.S. I know you just forgot the "/sarc", gave a plus 1.

Thu, 11/07/2013 - 13:33 | 4131577 blakeist
blakeist's picture

Black Helicopters are circling the building, ladies and gentlemen!

Thu, 11/07/2013 - 13:57 | 4131681 RaceToTheBottom
RaceToTheBottom's picture

Actually I believe they painted them blue from the underside so they look nice like blue sky when looking at them from the gorund.....

Everything is blue sky, move along

Thu, 11/07/2013 - 13:33 | 4131580 yogibear
yogibear's picture

Call it a market holiday  or market intermission instead. It sounds better.

Like when they close the banks due to a dollar crash they'll call it a bank holiday.

Banks call 2nd mortgages Home Equity loans. It doesn't sound nearly as bad.

Thu, 11/07/2013 - 13:34 | 4131585 lasvegaspersona
lasvegaspersona's picture

Interesting...people still trade?

(I assume machines would not need notice)

Thu, 11/07/2013 - 13:35 | 4131591 wallstreetapost...
wallstreetaposteriori's picture

what an absolute crock of shit.....  everytime I go short and it looks like the market is going the break they stop trading... WTF happend to the good old days when panic was allowed...

Thu, 11/07/2013 - 13:41 | 4131622 Ness.
Ness.'s picture

Only a terrrrista shorts the USSA!! Off to re-ed camp for you buddy! ;)  This is not really meant to be a joke.  I have a baaaaad feeling that if this fucker collapses and my shorts "come in" that I will never be allowed to keep my "ill-gotten/terrorist type" gains.

 

 

Thu, 11/07/2013 - 13:58 | 4131691 Winston Churchill
Winston Churchill's picture

Of course they will never be paid.Another reason no one is shorting this Bedlam.

Thu, 11/07/2013 - 13:37 | 4131597 HRamos_3
HRamos_3's picture

Are you guys sure it wasn't at 11:20 am?

Sure does look like so.

Thu, 11/07/2013 - 13:37 | 4131602 yogibear
yogibear's picture

Totally controlled. Any time it heads down they halt. Only one direction allowed. Up.

Thu, 11/07/2013 - 13:42 | 4131628 insanelysane
insanelysane's picture

This is why a crash or even a decent correction will ever occur again.  The market will just go down for an indefinite period of time.  Of course the people over at Silk Road X will be open for trading everything including stocks and bonds.

Thu, 11/07/2013 - 13:40 | 4131611 Son of Captain Nemo
Son of Captain Nemo's picture

No.

You couldn't possibly make ANY of this shit up that's been happening in the last 5 years!

The remedy? 

Time for another glass filled to the brim with ice and a bottle of Maker's Mark. 

New rules for anyone still in the market?

Cocktail time should promptly commence for everyone "in it" at 9:30am sharp and finish at 5:15pm when we hear the "bell toll for thee".

Thu, 11/07/2013 - 13:59 | 4131693 RaceToTheBottom
RaceToTheBottom's picture

hold the ice.

there is a reason why they call it neat....

Thu, 11/07/2013 - 14:09 | 4131729 Son of Captain Nemo
Son of Captain Nemo's picture

Spoken like a true purist with courage and wisdom.

Thu, 11/07/2013 - 14:22 | 4131780 Winston Churchill
Winston Churchill's picture

Glad I don't drink anymore.With the shit over the last five years I would have been

blotto by 0730 every day,.just topping up from  the previous night.

Thu, 11/07/2013 - 13:46 | 4131646 zrussell
zrussell's picture

"All the race horses will be stopped in place- until selected horses are fitted with skates. Then the race will resume..."

Thu, 11/07/2013 - 13:54 | 4131673 Son of Captain Nemo
Son of Captain Nemo's picture

Great metaphor.  I think amusement parks still call it a carousel ride?

Thu, 11/07/2013 - 13:51 | 4131664 Racer
Racer's picture

The market is going down, therefore close the complete 'market'.

What a Farce

Thu, 11/07/2013 - 13:58 | 4131686 yogibear
yogibear's picture

It's why the Fed laughs at any notion of price discovery. They'll just hype and lie until everything goes their way.

Housing is a different story because you have physical assets that must be owned. When people can't afford the rent they will consolidate and live together (what's happening now). 

The Fed can keep jacking up assets through buying everything up but it won't clear out the excesses and it's like Japan where it really never recovers. 

More and more debt and QE to support it.

 

Thu, 11/07/2013 - 14:06 | 4131715 nodhannum
nodhannum's picture

Exactly, during the depression my parents told me that many families had sons, daughters, including sons and daughter in laws living with them and without a single stick going up there was tons of housing available for rent.  Wait till the hedge  funds and the speculators I know who have purchased multiple properties, with the assumption that there will be full occupancy everywhere, find out that they won't even get a free tube of KY when it blows up.

Thu, 11/07/2013 - 14:27 | 4131798 TruthInSunshine
TruthInSunshine's picture

Almost all cities, townships, villages, etc. have ordinances setting a maximum ratio of people to square feet that can live in a residential dwelling...

...it's for public "health, safety & welfare" reasons (and the children), and not property tax reasons, don't 'ya know...

Thu, 11/07/2013 - 17:56 | 4132635 SmittyinLA
SmittyinLA's picture

SF last year lowered the minimum size for apartments to 200 sq ft, not sure if there is an occupancy limit at all.

Oh now Portland http://www.oregonlive.com/front-porch/index.ssf/2013/11/micro-apartments...

BTW has anybody else noticed Yahoo for the past few years has been running "micro-housing" features for about 45 of 52 weeks a year?

That's a shitload of expensive advertising for an industry that doesn't really exist yet.

Thu, 11/07/2013 - 14:01 | 4131699 youngman
youngman's picture

The funny thing is this is becoming a weekly event....almost daily.....someone is testing something...piece by piece..

Thu, 11/07/2013 - 14:18 | 4131759 Winston Churchill
Winston Churchill's picture

Verily.

Unlike.gov someone is checking ou their doomsday scenario with adequate testing.

2014 is looking more likely by  the day.Others are now jumping on @shadowstats timing

for a total collapse.At least Williams has been consistent in bringing his date forward

as events happen.

Thu, 11/07/2013 - 14:31 | 4131767 Son of Captain Nemo
Son of Captain Nemo's picture

Plan on it from here on out to be a weekly if not "daily" occurrence with increasing frequency until it reaches it's conclusion.

As long as 'those in charge' aren't willing to question it, the buffet is open and it's "All you can eat".

Thu, 11/07/2013 - 14:37 | 4131837 venturen
venturen's picture

they can get the former obamacare programmers to take care of it.

Thu, 11/07/2013 - 14:56 | 4131922 Metal Minded
Metal Minded's picture

My My My. Sure am glad I'm in Physical and Cryptocurreny.

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